Boubyan Bank’s General Assembly approves the distribution of 8% in cash dividends and 6% in bonus shares
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Boubyan Bank's General Assembly has approved the distribution of 8% in cash dividends and 6% in bonus shares. The bank's Chairman, Abdulaziz Abdullah Dakheel Al-Shaya, highlighted the success of the bank's 5-year strategy 'Boubyan 2023', which resulted in accelerated growth across financial indicators and market shares. The bank recorded a net profit of KD 80.4 million in 2023, with a growth rate of 39%. The total combined assets of Boubyan Bank Group increased to KD 8.4 billion, while customer deposits grew by 9% to reach KD 6.5 billion. The bank's Vice-Chairman, Adel Abdul Wahab Al-Majed, emphasized the bank's commitment to maintaining solid profitability and ongoing growth, as well as its vision to become the leading Islamic bank in innovating digital financial solutions. The General Assembly also approved the recommendation to distribute dividends to shareholders at the end of the financial year or semi-annually. Boubyan Bank received more than 20 awards and international ratings in 2023, and its ratings from Moody's, S&P, and Fitch remain stable. Nomo Bank, a subsidiary of Boubyan Bank Group, launched unique products and services in 2023 and aims to become the Islamic bank of choice for GCC customers in the United Kingdom.

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